Overview
- Eurozone ministers chose 42-year-old Kyriakos Pierrakakis to lead the Eurogroup, defeating Belgium’s Vincent Van Peteghem after Paschal Donohoe’s resignation.
- Belgium maintains its opposition to using frozen Russian assets to back an EU loan to Ukraine, citing legal exposure and possible retaliation linked to holdings at Euroclear.
- The Eurogroup president will chair monthly meetings of euro-area finance ministers and represent the bloc in bodies including the IMF, World Bank and G7 Finance.
- The Eurogroup formally launched the process to select a successor to ECB vice-president Luis de Guindos, whose term ends in May 2026, with a choice due in early 2026.
- Bulgaria is due to adopt the euro on 1 January, bringing euro-area membership to 21 countries.